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Microeconomics(Chart Analysis)

Bitcoin Trading Analysis: Developing a Detailed Strategy through Orderbook, CVD, TradingView, and Liquidation Charts_Before the CPI

1. Orderbook Chart Analysis

  • Current Price Range: The orderbook chart clearly shows areas with concentrated buy and sell orders. Bitcoin's current price is approximately 56,530 USDT.
  • Buy and Sell Order Distribution:
    • There is a significant amount of sell orders above 57,000 USDT. This level is likely to act as a strong resistance zone, and if the price fails to break through this level, it could limit upward movement.
    • Many buy orders are concentrated around the 56,000 USDT level. This price range may serve as a strong support zone, providing a potential bounce if the price declines.

Detailed Analysis:

  • Support Zone: A strong buy demand exists between 56,000 and 56,500 USDT, suggesting that if the price falls, it is likely to encounter strengthened buying interest in this zone.
  • Resistance Zone: The 57,000 USDT area sees concentrated sell orders, making it a crucial level to break through for any short-term upward trend.

2. CVD (Cumulative Volume Delta) Chart Analysis

  • Current Price Range: The CVD chart visually demonstrates the magnitude of buy and sell orders. As the price dropped below 56,000 USDT, large-volume sell orders increased significantly.
  • Order Breakdown:
    • Orders ranging from 1M to 10M USDT (brown line) show that the sharp decline started with substantial sell pressure from large players (whales), increasing the likelihood of the price dropping below 56,000 USDT.
    • The CVD indicates a short-term support level around 56,000 USDT, where the price could either drop further or potentially bounce.

Detailed Analysis:

  • Sell Pressure: The involvement of large players in sell-offs suggests that institutional investors or big traders expect further downside in the short term.
  • Buy Pressure: Smaller investors are showing interest in buying as prices drop, but the sell pressure from larger participants outweighs this demand.

3. TradingView Chart Analysis

  • Current Price Range: On the TradingView chart, Bitcoin’s current price is 56,819 USDT. The price recently tested 57,000 USDT, but it failed to break through and started retracing.
  • Key Levels:
    • The 1D OB (1-day order block) is located near 57,000 USDT, which remains a strong resistance zone. Without breaking through this level, further price increases will be difficult.
    • The 4H FVG (4-hour Fair Value Gap) is positioned around 56,400 USDT and is acting as a support zone. A further price drop could lead to a bounce from this level.

Detailed Analysis:

  • Support and Resistance Levels: The 56,400 USDT level is a key short-term support zone, while 57,000 USDT serves as a critical resistance zone.
  • Trading Strategy: Consider entering a buy position near 56,400 USDT, aiming for a potential bounce. If 57,000 USDT is broken, a stronger upward move could be anticipated.

4. Liquidation Chart Analysis

  • Liquidation Levels: The liquidation chart shows several positions being liquidated as the price dropped, particularly around 56,400 USDT, where many leveraged positions were cleared.
  • Volume Analysis: A surge in trading volume occurred near the 56,000 USDT level, where strong liquidation events took place, leading to increased market volatility.

Detailed Analysis:

  • Leverage Liquidations: Further liquidations may occur if the price approaches the 56,400 USDT level. After liquidations, a price rebound may happen, so it’s important to keep this in mind when making trading decisions.

Summary of Analysis:

  • Key Support Level: 56,400 USDT (4H FVG)
  • Key Resistance Level: 57,000 USDT (1D OB)
  • Buy Strategy: Consider taking a long position at 56,400 USDT, with partial profit-taking near 57,000 USDT, or hold for further gains if the resistance breaks.
  • Sell Strategy: If the price fails to break 57,000 USDT, consider shorting. A break below 56,400 USDT could signal additional downside risks.

This analysis is based on observed price levels and chart data, offering a foundation for developing trading strategies.